Saudi Arabia's Prince Alwaleed bin Talal announced soon after the results that he had finalized a $250 million deal in May to buy a 2.3 percent stake. Snap lost $353 million (roughly Rs. 2,400 crores) in the quarter, or 27 cents (about Rs. 18) per share.
However, there was positive news elsewhere in the results as parent company Snap Inc reported revenue of 262.2 million dollars (£202.6m), up 44% on this time a year ago and above analyst expectations.
Ruby Rose Lands Role As Lesbian Superhero Batwoman! The character has previously been in relationships with Renee Montoya and Maggie Sawyer (a connection The CW is surely aware of). Sarah Schechter of Berlanti Productions and Geoff Johns are also on board as executive producers.
Despite the fall in the number of users, the firm said revenues were up and its losses had declined in its second quarter. Revenue was forecast at $251.2 million. Its shares are down almost 10% for the year, as of Tuesday morning, while Facebook (FB) stock is up 5% despite a quarterly bloodbath last month.
For the current quarter ending in October, Snap said it expects revenue in the range of $265 million to $290 million. Snap in first-quarter results said it would again adjust how it presents content.
Evan Spiegel said Snap does consider users' feedback: "We feel that we have now addressed the biggest frustrations we've heard, and are eager to make more progress on the tremendous opportunity we now have to show more of the right content to the right people". "We saw and continue to see Snap as a niche platform".
The drop in daily active users is an unfortunate turn for the company, as it struggled with a tepid reaction to its app redesign late past year as well as continuing problems with its Android app.
These drops came as the company embarked on a huge redesigned and also committed to building hardware in the form of camera-toting spectacles.
Meteorologist Melissa Dye says the southern half of the island should brace for winds of 35 miles per hour (56.3 kph) or higher. Hawaii's Big Island is preparing for a possible hurricane - while a volcano continues to erupt on its shore.
There are actually only two *brand* new pugilists, plus three extra "Echo" fighters - altered clones of existing characters. In a Super Smash Bros . first, the Stage Morph option will let players seamlessly transition between two different stages .
NASA's response to GAO's warnings about a potential gap in having US astronauts aboard ISS is that it is "brainstorming" options. On the first operational mission to the International Space Station , Sunita Williams and Josh Cassada would fly for Boeing .
Jose Mourinho wants Pogba back at Old Trafford and is hopeful he can replicate his form on the global stage for United. They included Yerry Mina and Andre Gomes in the deal, bringing his valuation to over £100m.
Authorities have pleaded with students to call off the protests that have almost paralyzed Dhaka and spread beyond the capital. The police detained three persons after dispersing the agitating students using tear gas shells .
Tuesday's sanctions target Iran's purchases of US dollars, metals trading, coal, industrial software and the auto sector. That's because the EU is trying to protect European businesses that are trading in Iran from facing USA sanctions .
His wife, Diana Campbell, told PIX 11 , "You could see its little legs just floating and his head was in the water". The Campbell family left around 6 p.m., with Monte Campbell calling the experience "very emotional".
Dallas resident is county's first West Nile death of 2018
In a small number of cases, especially among those with pre-existing medical risk factors, West Nile can be life threatening. The health district said mosquito testing, which began in June is expected to continue through the late fall.
Tesla board says Musk started going-private talks last week
Investors must now weigh whether giving even more freedom to Musk, and the extra debt the deal may incur, is worth it. Trading in Tesla was halted for an hour and a half on Tuesday afternoon, by which time the stock had soared to $370.
GOP congressman busted for insider trading
No allegations of misconduct have been leveled against him or Conaway, a former chairman of the House Ethics Committee. Collins' lawyers noted in a statement that the government has not said the congressman traded any shares of the stock.
Trump aide was committing tax crimes for years - star witness
Gates also said he may have submitted personal expenses for reimbursement by Trump's inaugural committee, which he helped operate. Manafort also included Calk on a list he emailed to Gates of people he wanted to invite to Trump's inauguration.